Stephanie Seymour & Peter Brant

Supermodel Stephanie Seymour and her polo-playing husband Peter Brant are moving up.

They have put their old Palm Beach mansion on the market for $28 million to move into the estate they bought three years ago for $47 million. It took that long to renovate.

Their old place was truly old. The 7,200 sq. ft. house at 245 Dunbar Road, known as Buttonwood, was built in 1904 and dragged over logs from its original lakeside site on Emerald Lane. It was the home of the town’s first mayor, E.N. Dimick.

245 Dunbar Road in Palm Beach (Courtesy of Brown Harris Stevens)

Liza Pulitzer, of Brown Harris Stevens, who has the listing, is familiar with the property. Her then husband Bob Leidy bought the estate in 1978 for just $255,000. When Brant and Seymour bought it 21 years later, the price was $4.1 million. 

Pulitzer told me, “Anyone who bought in the ‘70s has seen their property values skyrocket. It’s shocking. But those opportunities are long gone.” 

Liza Pulitzer (left) with Whitney McGurk, her partner at Brown Harris Stevens, in Palm Beach.

Three years ago, Seymour and Brant, former owner of Interview magazine and a big art collector, paid $47 million for the Addison Mizner-designed mansion at 1820 South Ocean Boulevard.

The estate, built in 1926, is doubly waterfront, going from ocean to lake, and it’s bigger to fit more art, at 19,000 sq. ft.

1820 South Ocean Boulevard in Palm Beach.

The late Alfred Taubman, who owned Sotheby’s, purchased the mansion in 1989 for $5.5 million.

Seymour, one of the supermodels with Naomi Campbell and Claudia Schiffer, starred in two Guns N’ Roses music videos when she dated Axl Rose. 

Brant, owner of White Birch Paper, has bred race horses and has a huge collection of art by Andy Warhol and Jean-Michel Basquiat. Now he’ll have more wall space to hang his art.

“There is still limited inventory,” Pulitzer said. “There will always be a market for good properties.”